BTL Group raised $15.3 Million for Interbit platform

Blockchain company BTL Group has raised $15.3 million to develop its Interbit platform, which aims to be launched in early 2018
27 November 2017   2956

According to whitepaper, Interbit is a private blockchain development platform designed for business innovators and developers to quickly and easily incorporate the best of blockchain capabilities into enterprise applications. It also includes a suite of APIs and smart contracts that allow enterprise application developers to rapidly, confidently, and efficiently create enterprise-grade applications.

The financial resources will be spent on building technical team and commence a sales and marketing drive in conjunction with the launch of the platform. The objectives are to onboard enterprises who can license InterbitTM to either build their own applications or partner with BTL, as well as target technology teams and developers to encourage adoption, enabling them to use the JavaScript coding language to build and share applications, said a statement.

We are delighted to have completed this funding round, where we saw significantly increased investor demand given the recent progress and exciting news from the Company. The capital will be used to rapidly expedite our go to market strategy for our third generation blockchain platform, InterbitTM.

 

Dominic McCann

CEO, BTL

BTL has operations in both Canada and the UK and it is listed on Canada's TSX Venture Exchange. The main focus has been on remittances, which BTL has partnered with Visa's digital innovation teams on. The company has also been adopting its blockchain to the energy and gaming sectors.

ICOs to Lose Popularity, Diar Research Say

Diar assumes that in the future unregulated ICOs won't attract significant attention
11 December 2018   51

Although since the beginning of this year, ICO-startups have managed to raise over $ 12.2 billion, the November figure was only $ 65 million, according to data from a new study of the Diar portal.

According to analysts, the once popular method of financing, which allowed startups to attract tens and hundreds of millions of dollars in the absence of any product, exhausted itself against the background of fears about regulators' actions and the general dynamics of the cryptocurrency market, which did not leave retail investors with anything except for an unpleasant aftertaste.

This version is also supported by the data from the TokenData portal, which Diar leads in his research. Even with respect to the October levels, which constituted only a small fraction of what could be collected a few months ago, the November figures were 3 times lower.

Diar assumes that in the future unregulated ICOs as we have known them over the past years will no longer attract significant attention and will give way to regulated platforms of tokenized securities.